Lake Superior Acquisition Corp.

Lake Superior Acquisition Corp. (LKSP) reported a net income of $666K for fiscal year 2025, driven primarily by $1.0M in interest earned on investments held in its Trust Account. This positive bottom-line result occurred despite an operating loss of $360K, attributed to general and administrative expenses. The company's balance sheet shows total assets of $116.6M, with $116.0M held in the Trust Account. Total liabilities stand at $4.7M, including a $4.6M deferred underwriting fee payable, resulting in a shareholders' deficit of $4.2M. Cash flow from operations was negative $444K, while financing activities provided $115.8M, primarily from the Initial Public Offering proceeds of $115.0M and private placement unit sales of $3.6M. The company ended the year with $129K in cash. As a special purpose acquisition company (SPAC), these financial results reflect its pre-business combination stage, with significant capital held in trust for future acquisition activities.

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